Adib

Adib is 23 years old and married. He has completed secondary school and is the father of two children. He lives in Taiz, Yemen. He has worked very hard for many years to get his family ahead and give them everything they deserve. He has a gas cylinder store which is his main source of income. He started his business with limited capital that he had managed well. His business is located in a very strategic area. Many people prefer his store because he provides the best possible customer service.

Adib's dream is to see his store flourish. Due to the current bad situation in Yemen, he has less profit from his enterprise. So, he took out a youth loan of 200,000 YER from AMB to stock his business with more gas cylinders so that his customers will always find what they need and keep coming back. His goal for the future is for his business to grow and to have more customer demand. He will then get more income, which will help meet the basic needs of his household.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources.

About Al-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.